SCHEDULE: Nantahala Capital Discloses 9.99% Stake in AEON Biopharma

Nantahala Capital Management, LLC, along with its managing members Wilmot B. Harkey and Daniel Mack, has reported beneficial ownership of 5,048,027 shares, representing 9.99% of AEON Biopharma, Inc.'s Class A common stock.

Summary

• Nantahala Capital Management, LLC, and its managing members Wilmot B. Harkey and Daniel Mack, have filed a Schedule 13G.
• As of September 30, 2026, the reporting persons collectively beneficially own 5,048,027 shares of AEON Biopharma, Inc. Class A common stock.
• This ownership stake represents 9.99% of the total outstanding shares.
• The filing indicates that 648,027 of these shares may be acquired within sixty days through the exercise of convertible securities.
• Nantahala Capital Management, LLC is identified as an investment adviser, and Messrs. Harkey and Mack are identified as control persons.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, indicating a significant but not controlling stake acquisition by Nantahala Capital Management, LLC and its principals in AEON Biopharma, Inc. The filing primarily confirms ownership levels and does not disclose new strategic initiatives or financial performance.

Positives

• Nantahala Capital Management, LLC, a significant investment firm, has taken a substantial stake in AEON Biopharma, Inc., signaling confidence.
• The reporting persons have shared voting and dispositive power over 5,048,027 shares, indicating coordinated investment strategy.
• The filing confirms that the shares were acquired and are held in the ordinary course of business and not for the purpose of influencing control.

Negatives

• The filing does not provide any new financial performance data or strategic updates for AEON Biopharma, Inc.
• The reporting persons have no sole voting or dispositive power, with all voting and dispositive power being shared.

Risks

• The potential acquisition of an additional 648,027 shares through convertible securities could increase ownership concentration.
• As a significant shareholder, Nantahala Capital Management, LLC's investment decisions could influence AEON Biopharma's stock price.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding AEON Biopharma, Inc.'s future performance. It solely reports on beneficial ownership.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors accumulating significant stakes in public companies. Nantahala Capital Management's filing indicates a notable investment in AEON Biopharma, positioning them as a key stakeholder.

Comparison to Industry Standards

• The 9.99% ownership threshold is a common level for significant institutional investors who are not seeking outright control but wish to influence or monitor company strategy.
• Filing as an investment adviser (IA) and control person (HC) is standard for entities like Nantahala Capital Management and its principals when reporting ownership.

Related Party Transactions

• BLACKWELL PARTNERS LLC - SERIES A, a fund advised by Nantahala, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of more than five percent of the outstanding shares of common stock beneficially owned by Nantahala.

Stakeholder Impact

• Shareholders: The filing confirms a significant institutional investor's stake, which may influence market perception and trading activity.
• Management of AEON Biopharma: Will be aware of Nantahala Capital Management's substantial interest and potential influence.

Next Steps

• Nantahala Capital Management, LLC and its principals will continue to hold their shares in AEON Biopharma, Inc.
• The reporting persons may acquire up to an additional 648,027 shares through the exercise of convertible securities within sixty days.

Key Dates

Keywords

Schedule 13G, Beneficial Ownership, Nantahala Capital Management, AEON Biopharma, Investment Adviser, Convertible Securities, Shareholder